Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #75,822
- Feb 12, 2017 3:01am Feb 12, 2017 3:01am
- Joined Nov 2008 | Status: Trader | 50,203 Posts
{quote}{quote} Hello Emmanuel, I'm a little bit confused from the aboveI understand it correctly that we are looking for setups where we are in front of a monthly line? So the overall trend could push us through the line (the probability is higher if we are dealing with the overall trend)? So we could build with MEME a position before the monthly line, and if the price does not break the line we close a part of the position and wait with a small position if the line is still broken? But if the line is broken then you could rebuild a MEME...
anyone can trade the D1 chart without using ME/ME and still use those MN swing levels and follow the market by looking at the higher timeframe.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #75,823
- Feb 12, 2017 3:16am Feb 12, 2017 3:16am
- Joined Nov 2008 | Status: Trader | 50,203 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
I haven't 30/40 lines within a month but checking monthly and weekly chart there are support/resistence like this chart. I don't look a Monthly or Weekly chart about five years ago for to draw support and resistence lines,but zones close to the current price.
White lines= Montlhy S&R
Yellow lines= Weekly S&R
White lines= Montlhy S&R
Yellow lines= Weekly S&R
Mi odino pure, purche' mi temano. (Gaio Cesare Germanico Caligola)
- #75,825
- Feb 12, 2017 4:14am Feb 12, 2017 4:14am
- Joined Nov 2008 | Status: Trader | 50,203 Posts
I haven't 30/40 lines within a month but checking monthly and weekly chart there are support/resistence like this chart. I don't look a Monthly or Weekly chart about five years ago for to draw support and resistence lines,but zones close to the current price. White lines= Montlhy S&R Yellow lines= Weekly S&R monthly.png;2184115 weekly.png;2184116 final.png;2184118 {image} {image} {image}
EURUSD Week 07 Feb 13 to 17:
Wont be easy for EURUSD to 'free fall' next week unless some serious events out of the EU.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #75,826
- Feb 12, 2017 5:56am Feb 12, 2017 5:56am
- Joined Sep 2015 | Status: Trader | 2,516 Posts
Trading thin liquidity at the boundary of the charts
- #75,830
- Edited 2:40pm Feb 12, 2017 2:10pm | Edited 2:40pm
- Joined Nov 2015 | Status: Trader | 412 Posts
{quote} Fear and Greed with big candles: GJ Fear and Greed with Big candle.png;2182195 but TMS 5-Method traders follow some rules. Post#647 they check if the candles at the reversal are big candles, or small candles, then decide if the setup is good. {image}
How can we distinguish between " Fear and Greed with big candles" with genuine big candle setup ?
According to Big E, it's big candle with momentum.
He also said look at last reversal which is small reversal. My understanding is if the last reversal is small, it has less chance to get a profit out of current setup even though with current big reversal candle. Also it's still up trend.
Or we can simply avoid this setup with MTF analysis ?
Cheers;
- #75,831
- Feb 12, 2017 3:05pm Feb 12, 2017 3:05pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
{quote} Good morning Emmanuel !!!! How can we distinguish between " Fear and Greed with big candles" with genuine big candle setup ? According to Big E, it's big candle with momentum. He also said look at last reversal which is small reversal. My understanding is if the last reversal is small, it has less chance to get a profit out of current setup even though with current big reversal candle. Also it's still up trend. Or we can simply avoid this setup with MTF analysis ? Cheers; Image1.png;2184361 {image}
that yellow circled area was not a 'last reversal'.
a reversal must have a distinct swing low or a swing high and Big E believed that each swing after a reversal will run 3 to 8 candles.
we must remember that Big E started trading with the Stochastics, then he went and learned from Craig Harris back in 2008-9, he also traded with Dean Malone Synergy system.
read this old post,
http://www.forexfactory.com/showthre...49#post3320949
then look at this old charts below,
which are the last reversals,
by looking at last reversals, we determine if the next reversal would be a 'strong one'.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #75,832
- Edited 3:53pm Feb 12, 2017 3:39pm | Edited 3:53pm
- Joined Nov 2015 | Status: Trader | 412 Posts
{quote} that yellow circled area was not a 'last reversal'. a reversal must have a distinct swing low or a swing high and Big E believed that each swing after a reversal will run 3 to 8 candles. we must remember that Big E started trading with the Stochastics, then he went and learned from Craig Harris back in 2008-9, he also traded with Dean Malone Synergy system. read this old post, http://www.forexfactory.com/showthre...49#post3320949 then look at this old charts below, which are the last reversals, last reversal chart example.png;2184395...
I hope it's right one.
If then, there is nothing to do filtering a bad setup as I am looking at last reversal.
- #75,833
- Feb 12, 2017 4:09pm Feb 12, 2017 4:09pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #75,834
- Feb 12, 2017 4:44pm Feb 12, 2017 4:44pm
- Joined Nov 2008 | Status: Trader | 50,203 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #75,835
- Feb 12, 2017 8:15pm Feb 12, 2017 8:15pm
Greetings Everone! Here is my analysis using TMS for NZDUSD:
Looking at the 1H we can see the TDI cross very nicely with confluence with the STO.
Looking at the Daily to see where everything is heading the STO and TDI seem like it has curved...which in turn doesn't guarantee 100% confirmation because that can be changed and the daily candle is still red.
Needless to say, I implemented Elliot wave into my 1H Chart to give nice potential confirmation in my analysis.
Looking at the 1H we can see the TDI cross very nicely with confluence with the STO.
Looking at the Daily to see where everything is heading the STO and TDI seem like it has curved...which in turn doesn't guarantee 100% confirmation because that can be changed and the daily candle is still red.
Needless to say, I implemented Elliot wave into my 1H Chart to give nice potential confirmation in my analysis.
Take what the market gives you.
